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Hi Jgills. I started my own Journal thread as well on VX/VXX/VIX trades. Perhaps we could post in each other's journal opinions and thoughts on each other's trades and ideas and share trading ideas and get both journals humming..... Good Luck to you!

Legged into -Nov/+Dec/-Jan VX FLY by selling the +DEC(17.60)/-JAN(18.10) spread for -.50. Position is now -NOV/+Dec/-JAN @ -0.175 credit Looking for less riskier play on this early to mid month curve. (At least less than the outright calendar but I could be wrong haha)

TRADE - Considering longer term view into September Fed meeting added the following: Long Sep 50 VIX 17/18 Call Spread @ $0.25 Sep VX @ 16.85 Still worried about too quick a spike and inversion of VIX curve...

TRADE - Long xx VXX AUG 21 2015 17.50 PUTs @ .52 Still have VX positions for long term approach to VIX but looking at an overnight drop in vols into tomorrow's opening using the VXX, expiration day. I might have been early with my previous VXX puts so we will see into tomorrow on this one...

Market running and vols running so closed this out at .05 for a net loss of .19. Will see how the market trades into the close to see if another trade is possible for short term pull back.

CLOSED LONG SEP VX Futures @ 16.15 GAIN = +.75 Want to see what happens today since market has tended to sell off and rally lunch/late day. Closing this, was at 16.40 but pulled back and would rather take the profit and see how the day plays out.

Thank you. The only risk now is if VIX spikes like today and stays that way since that will push the SEP calls higher than the long NOV calls due to the VIX curve structure. A pop and drop repeatedly in vols will churn it nicely so I hope we do not get a 2008 or 2009 VIX inversion in the curve.

Nice website to review the VIX futres term structure and look at historical data, as well as contango and spreads. VixCentral.com

Initial pop on open, doubled the position with more puts at .14 NEW COST BASIS = .24 More aggressive play for me but my other long vol positions are doing well, I feel intraday we will see some pull back on this /ES, /NQ vols breakdown to allow me to profit.

Trade entered last week but worth following: VIX Call Calendar Long NOV VIX 21.00 Calls @ 1.57 Shrt AUG VIX 21.00 Calls @ .14 Net Debit: 1.43 AUG expired worthless this week Tuesday/Wed settlement Sold SEP VIX 21.00 Calls @ .74 NEW NET DEBIT = .69 Play on increasing vols into SEP/OCT...

Current Positions I have a few positions in place before I started writing it here and although it is not real time I want to list a few for discussion purposes: Long SEP VX Futures @ 15.40 Expecting SEP vols to move higher this week into next - Short term play Calendar: Long December @...

Wind, Thanks for the questions. I trade both short and long term on vol depending on the product and what I see. Some trades are just pure directional and some are based on modelling and seeing an entry. I look at a few things and wait to see what looks appealing. This specific entry is...

TRADE 1: VXX @ 16.29 Close (4:00PMEST) Long xx VXX Aug $16.50 Puts @ $.34 (options trade until 4:!5PM EST) Expectation is move back lower of VXX into tomorrow so this will be a trade closed out tomorrow no later than market close. Model trade looking for VXX/vol pullback. I am leaving off...

I have some current trades in progress but in fairness will only post them for discussion since they were not posted here in real time.

Long-time guest lurker finally deciding to take advantage of some of the smart vol traders here and post my trades and discussions on trading vol using VX Futures/VIX options/VXX options and other similar products. Hope some of the other fellow traders experienced in this area pop in to expand...